Pharmaceutical firm Mankind Pharma plans to set up its third plant at Paonta Sahib in Himachal Pradesh with an investment of Rs 100 crore.
“US FDA compliant plant will initially produce soft gel capsules, ointments and liquid solutions from March. New plant will curtail the cost by 5-10 %” said RC Juneja, CEO, Mankind Pharma.
Mankind also plans to add mosquito repellent, shoe polish and shaving cream to its portfolio by next financial year.
Range of new products in antifungal, gastrointestinal, NSAIDs, cardiovascular, dermal and erectile dysfunction categories will also be launched next year. “Over the counter (OTC) products are significant revenue drivers and we are extensively growing in this segment,” he added.
Considering the growth in formulation and development (F&D) and active pharmaceutical ingredients (API), the company is also setting up research and development unit with an investment of over R25 crore at Manesar.